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OK, So Maybe My Thinking Is Way Off Regarding Pricing of Toned Monsters and Modern Issues
dragon
Posts: 4,548 ✭✭
Yes, maybe I'm just being stubborn and not seeing the big picture here as far as someone paying 50X bid on an 1881-S dollar, or $5K-$10K for a clad quarter in MS68, or whatever prices seem absurd to me regarding modern issues or insane prices paid at auction. Maybe 50X bid for a toned 81-S in 65 isn't even the ceiling, maybe 75X or 100X will be!
Maybe, just maybe, todays modern collectors are just like all those 'crazies' in the 50s and 60s who were searching through countless bags of Morgans looking to cherrypick all of the nice DMPLs and high grade ones huh?? Maybe some of the 'absurd' IMO prices paid today on monster toned coins will seem like a 'steal' several years from now as fewer and fewer become available.
After all, just LOOK at some of the prices people pay for Van Gogh's or Picasso's, in the TENS OF MILLIONS OF DOLLARS!!
Maybe I just need to re-adjust my thinking a little. Sure wish I re-adjusted BEFORE I sold some of my best toned pieces though!
Dragon
Maybe, just maybe, todays modern collectors are just like all those 'crazies' in the 50s and 60s who were searching through countless bags of Morgans looking to cherrypick all of the nice DMPLs and high grade ones huh?? Maybe some of the 'absurd' IMO prices paid today on monster toned coins will seem like a 'steal' several years from now as fewer and fewer become available.
After all, just LOOK at some of the prices people pay for Van Gogh's or Picasso's, in the TENS OF MILLIONS OF DOLLARS!!
Maybe I just need to re-adjust my thinking a little. Sure wish I re-adjusted BEFORE I sold some of my best toned pieces though!
Dragon
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Folks are routinely paying up to 50x for super toned low grade Morgans, but declining to spend 3x (to this point) for a super toned 1880(cc) Morgan being discussed on the other board in the original govt. holder, because the toning is beautiful reverse toning-right? Isn't this a bit strange when you think about it?
And, modern collectors are, without question, "cherrypicking" neat POTENTIAL coins, just like the DMPL Morgan collectors were handpicking neat potential coins in the 1960s. We have said it many times before, but a coin like a 1981(s) SBA Dollar in PCGS-MS67 for example (yet unfound) may already be close to a "five figure coin" in the eyes of many, many modern collectors.
It just all makes for a very neat and interesting market, with something for everyone!
I think that you have to be selective when paying for a coin, regardelss of the year it was minted. Recently, a 1995-W Silver Eagle Proof in PCGS PR-70DC was offered at the low price of $15K. Population of one coin graded. There were no bidders, and the coin was placed in a private sale. For me, buying that coin wouldn't make sense, as the minting process turns out high quality material. The premium for a single point wasn't worth it. Too much risk in many more being found in 70 down the road.
Now take a high grade modern meant for circulation, like a 1976-D Type 2 Ike in MS-67. About 20 graded, and around 100 in MS-66. Asking price on the Ike is around $2K (some may argue that) The premium here MAY be more reasonable because the Ikes have been around for 25 years, and were not minted in a way that preserved the coins in high grade. Unless a hoard is discovered in high grade, the odds of the population tripling is pretty low.
Keith
These also are Peace dollars that have smaller mintages and missed the great silver melts in the early 20th Century. Also how many little collectors (like me) hold on to many of the coins they upgrade? I have several modern coins in varying high grades that I do not feel like selling now.
I owned a piece like that a while back (1886-P PCGS MS65), sold it for $750. Man, now I feel like a real idiot.
Kyle